Interview with Binance Founder CZ: Future Focus on Investing and Engaging with Early-Stage Entrepreneurs
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Interview with Binance Founder CZ: Future Focus on Investing and Engaging with Early-Stage Entrepreneurs
CZ believes Ethereum's challenges are more of a public relations crisis.
Navigating Web3 tides with focused insightsBy Wu Shuo Colin
The views expressed in this article are those of the interviewee and do not necessarily reflect the opinions of Wu Shuo.
In this interview, Wu Shuo's Colin speaks with Binance founder Changpeng Zhao (CZ) on a range of topics. CZ recalls his happy childhood years in China before the age of 12; after immigrating to Canada at 12, his family’s socioeconomic status changed—his mother transitioned from being a teacher to working in a garment factory, which even affected her health. Later, he left university early after receiving a job offer.
Due to Binance’s rapid success, CZ went from relative obscurity to briefly becoming the world’s richest person within just a few years. However, he later faced U.S. prosecution and ultimately served four months in prison. Every year, CZ says his biggest wish is to achieve six-pack abs. He jokes that he came closest right after being released from prison, because the food inside was so terrible.
During the conversation, CZ discusses the reasons behind Binance’s early rapid success, attributing it largely to accumulated personal experience combined with good timing. While other exchanges focused on mainstream coins, Binance quickly listed a large number of ERC20 tokens. They also discussed whether FTX could have been saved, current listing challenges facing centralized exchanges (CEX), whether CEXs must move toward compliance, and the crypto policy directions of Hong Kong and the United States.
CZ shares insights into writing what he considers the most important article of his life—"Principles"—talks about Vitalik Buterin’s current challenges, teases Sun Yuchun (Justin Sun), analyzes why memecoins on Solana suddenly exploded, outlines his future plans, and offers advice for entrepreneurs. Finally, CZ sends New Year greetings to the Chinese community, expressing optimism that this year will be an excellent one, encouraging everyone to make steady progress and achieve strong results.
Listen to the full podcast:
Xiaoyuzhou FM:
https://www.xiaoyuzhoufm.com/episodes/6795f930d74435e4a3dc2cfa
YouTube:
https://youtu.be/vfl73WULagc
Life Before Age 12 in China and Family Life After Moving to Canada
Colin: Welcome, CZ, thank you for joining our interview. First question: You left China at age 12—do you still remember much about your childhood before that?
CZ: Yes, of course. I think my childhood was quite happy, and all my memories are positive. Both my parents were teachers, and I lived on school campuses—elementary, middle school, even University of Science and Technology of China—so I grew up entirely within academic environments, which left me with wonderful impressions. I had a carefree childhood. We weren’t wealthy, but as a child, I didn’t feel the lack of money. Life was good.
Colin: I’ve read some of your later interviews and had a question. After moving to Canada, you mentioned your parents earned close to the local minimum wage. Did life become difficult then? Did they continue teaching or switch careers? Did you need to work part-time jobs?
CZ: When we first arrived in Canada, our standard of living didn’t drop—we’d been middle-class or comfortably off in China, both parents had salaries, and my father even saved money during his studies abroad to send back home, which worked well under the exchange rate then. In Canada, while our quality of life remained okay, we were near the bottom of the income ladder. But food, clothing, and housing were still covered. My mom couldn’t continue teaching due to poor English skills, so she took a job at a garment factory, sewing clothes every day, leaving early and returning late. It was physically taxing work, but it was the only job she could find.
My dad worked as a teaching assistant—the pay wasn’t high, but the university provided subsidized family housing. Our small house there was actually bigger than where we lived in China, so in that sense, things improved. We weren’t extremely poor in Canada, but our income was near the lowest level.
Colin: What did your father teach?
CZ: Geophysics—Geo Physics. It’s very math-intensive, full of complex formulas requiring constant calculations. My father was strong in math, which might explain why I did well in science subjects too.
Reason for Leaving University: Delaying Graduation Due to a Good Internship Offer
Colin: Like you and Vitalik, many immigrants go to Canada and end up dropping out of college. Was your decision to leave university driven by a desire to start a business, or was there another reason?
CZ: I dropped out during my senior year, which is different from leaving in freshman or sophomore year. At the time, I was interning in Tokyo, and when the internship ended, my boss offered me a full-time position with excellent compensation. I compared it to typical post-graduation salaries and realized it would be hard to get such a high-paying job afterward. The boss had a project halfway done and wanted me to stay an extra year. Initially, he said just a few months—a semester—and would keep paying me normally. The offer was so attractive that I kept postponing my return to school, and eventually, two years passed without me going back.
Colin: So it wasn’t a decision to drop out and start a company—it was really just because the job offer was too good.
CZ: Right. I wasn’t like others who boldly quit to start ventures. I delayed graduation purely because of that great offer and never returned. Later, I found that lacking a degree caused visa issues, so I obtained a qualification through distance education at a college. So technically, I now have a degree, but I never graduated from that original university.
Discussion on Reasons Behind Binance’s Early Rapid Growth
Colin: I understand you've started several ventures—reports say between five and ten. In 2017, you founded Binance. Starting Binance was tough, and surely you didn't expect it to grow so big. Looking back, what do you see as the key factors behind Binance’s explosive growth within just one year?
CZ: Many people think Binance became famous overnight, but they may forget to count the more than 20 years I’d already spent building experience in the industry. I’d been working in tech and exchanges for over two decades. By the time I launched Binance, I already had four to five years in cryptocurrency, plus established networks and teams. For Binance, I built a strong team—both technical and product teams were excellent. The community also supported us heavily, and I wasn’t a complete stranger. Plus, we got lucky—the timing was perfect.
In 2017, major exchanges like Coinbase, OKCoin, and Huobi mainly focused on Bitcoin trading and listed very few Ethereum ERC-20 tokens. But our own BNB was an ERC-20 token, so we naturally supported them early and listed many more afterward. From a product standpoint, we clearly had an edge. But I believe the most important factor was our philosophy differed from earlier exchanges. We didn’t just focus on profits—we prioritized user protection, which was evident during the “September 14” crackdown.
At that time, regulations required any project that conducted an ICO in China to repay investors if they lost money. Many projects were deeply in the red and unable to repay. On our platform, around four such projects were losing money, and the teams couldn’t cover user losses. After deliberation, we decided to cover the losses ourselves—an estimated $6 million. Remember, we had only raised $15 million two months prior, and the company was still unprofitable. That $6 million represented 40% of our assets. Still, we paid it out—even though these weren’t projects we issued. On customer service, while users at other exchanges in 2017 might wait two or three months for support, we committed to resolving requests within one day—now it’s down to five minutes. These are the main reasons Binance grew so fast, although luck played a role too.
Security Pressures and System Performance Challenges in Binance’s Early Days
Colin: I was working at Bitmain back then, and I imagine Binance faced huge pressure in its first year, especially around security. With a small team and immature industry-wide security infrastructure, was dealing with hackers extremely stressful?
CZ: Absolutely. For any exchange, the threat of hacking creates immense pressure—security is fundamental to operations. Without it, you can’t run a business at all. Here’s a little-known anecdote: during Binance’s first four months—from July to mid-October—every withdrawal request was manually reviewed. Staff processed withdrawals one by one, handling only a few every few hours.
At night, when staff rested, no withdrawals were processed. We did this because we were terrified that a vulnerability in automated withdrawals could lead to total fund loss. Even when Binance entered the global top ten exchanges by October, withdrawals were still manual. But actually, the bigger challenge then was system performance. Binance grew too fast—users flooded in, and the system constantly lagged. Despite advertising a high-speed matching engine, surrounding systems—registration, KYC, deposits, withdrawals—all suffered delays. So most of our effort went into optimizing system performance.
Analyzing the FTX Incident: Could It Have Been Saved?
Colin: The FTX incident was a major event in crypto. In hindsight, it feels absurd in crypto history, and Binance was indirectly involved. Now, looking back, was FTX still salvageable at the time? Now it seems their remaining assets might cover user repayments. While misappropriating user funds was clearly wrong and those responsible should be punished, perhaps the remaining assets are sufficient for compensation?
CZ: My understanding is that, measured in USD at the time, FTX’s existing assets could cover liabilities based on coin prices then. But if users were to receive back their original Bitcoin, Ethereum, and other cryptocurrencies exactly as held, FTX’s current assets couldn’t cover the value appreciation since then. In other words, if FTX hadn’t collapsed, users’ holdings today could be three to four times higher than what they’d get now. Based on current calculations—using coin prices at the time converted to USD versus today’s asset value in USD—coverage is possible. But if users had simply held those coins until now, market values would be four to five times higher. I’m not sure if my understanding is 100% accurate.
Colin: So the shortfall is still too large to bridge.
CZ: FTX hasn’t fully covered all user assets—it’s calculated based on lower coin prices at the time. If users received all their original cryptocurrencies, early holders would now have five times more value. That’s what they rightfully deserve. It’s like the 2014 Mt. Gox incident—owing billions then seemed unimaginable, but with price increases, it looks different now. While FTX’s current assets may cover Bitcoin’s price at the time, from the user’s perspective, holding those coins would yield five times more today. So users still lost roughly 70–80%. Looking back, by November 2022 when FTX began collapsing, it was beyond saving. Earlier detection might have helped, but there was no way to foresee it at the time.
On-chain Economy Thrives—Challenges for Centralized Exchanges?
Colin: Another hot topic lately—I’d love your take. Binance’s early success was largely due to listing many high-growth new tokens, like BNB and TRON. Later, Binance Launchpad and Launchpool were also successful. But over the past year, the on-chain economy has been extremely active. Many people can buy tokens at the lowest prices directly on-chain, while exchange listings have become signals of price peaks—quite the opposite of earlier days. I feel that neither Binance nor other exchanges have a clear strategy for this shift. What do you think?
CZ: I think there are at least two layers to this. First, as platforms grow larger, they can only list more stable tokens. If Binance lists a new token with a $10 million market cap—or even just a few million or hundreds of thousands of dollars—the price volatility would be extreme. So from a large exchange’s perspective, to avoid excessive volatility, only larger-cap tokens can be listed. This is a natural constraint for big exchanges. However, solutions exist—like creating innovation zones or supporting these small tokens within Web3 wallets. Personally, I don’t think Binance has done particularly well here. Over the past one to two years, Binance’s focus has been distracted by U.S.-related matters and my personal affairs. I spent most of last year in the U.S. handling personal issues.
Second, memecoins have been extremely popular over the past year. Large exchanges mostly missed this wave, while on-chain participation—especially on Solana—was easier. There are various theories—I can’t verify their accuracy. Solana previously had close ties to FTX. After FTX collapsed, many on Solana lost money and lost exchange support, so they turned to pump-and-dump schemes. Doing this on Binance Chain isn’t suitable—ethically and legally problematic. Also, over recent years, the U.S. SEC—under Gary Gensler—has treated nearly every token as a security. The only type clearly not considered a security is useless tokens—memecoins. So memecoins are less likely to be sued. With no utility or promises, they’re perfect for pump-and-dumps and operate independently of exchanges—hence their popularity on Solana. Just as we got lucky in 2017, the past couple of years belonged to memecoins. I find it interesting—no judgment on whether it’s good or bad. Since the industry is evolving this way, as a Binance shareholder, industry KOL, or OG, I support developments that benefit the ecosystem, so I encourage people to support memecoins.
Must All Centralized Exchanges Move Toward Compliance?
Colin: Data shows Binance’s capital inflows last year exceeded the sum of all other exchanges. Despite ongoing challenges, Binance remains solid in growth. Yet centralized exchanges now face compliance hurdles—compliant ones struggle to profit, while offshore exchanges face increasing regulatory risks. Exchange founders traveling to Japan or Europe may encounter legal issues—like Telegram’s CEO, arrested upon landing in France. How do you view this dilemma? Do you think all exchanges must eventually become compliant?
CZ: I believe so. Once a platform reaches a certain scale, compliance becomes mandatory. From regulators’ perspective, small platforms may be overlooked temporarily, but large platforms are always a priority. Binance has been under regulatory scrutiny for a long time, so we must follow the compliance path. Binance faces many restrictions—for example, even our associated Web3 wallet requires KYC. Although users control their assets via MPC technology in the Web3 wallet, smaller exchanges often don’t require KYC for their Web3 wallets. That’s something Binance can’t do. Some second-tier exchanges are sizable yet frequently skip KYC, so Binance faces more constraints. Larger exchanges generally face more restrictions, but compliance is unavoidable. Also, regulatory enforcement isn’t uniform—not all platforms are treated equally.
Colin: Indeed, it varies. Now someone like Sun Yuchun can donate heavily to Trump, but under Democratic leadership, that opportunity might not exist.
CZ: True. But I believe regulation will eventually mature. Especially now, the U.S. attitude toward digital assets has become highly supportive. I expect the U.S. to introduce a series of positive, clear regulatory frameworks for the crypto industry. The new SEC chair’s proposed rules are much clearer and far more constructive than before. Overall, the regulatory environment will improve, and the framework will become more robust. Platforms that already hold licenses and meet compliance standards will gain greater opportunities to grow.
As you mentioned, despite the memecoin craze, Binance’s capital inflows last year surpassed all other exchanges combined. This suggests many retail investors—especially first-time crypto users—prefer large, stable platforms that appear regulated, have survived repeated scrutiny, and remain operational. So many new users lean toward these more reliable platforms. Memecoins are indeed popular, but most participants are OGs—though newcomers join too, early adopters dominate. After playing memecoins, many still turn to buying Bitcoin for broader investments, and when doing so, they often choose major exchanges. Different areas will develop at different speeds, under different regulatory pressures and models. I think that’s healthy—an industry should host diverse platforms.
Hong Kong Has Room to Improve—Future Regulatory Easing Under U.S. Pressure
Colin: What’s your view on Hong Kong’s current regulatory policies? You mentioned the U.S.—you believe the next two to four years are hugely positive for crypto. Currently, within Greater China, Hong Kong may serve as a breakthrough point for crypto, and China’s central bank’s latest report encourages Hong Kong to actively explore crypto policies.
CZ: I think China’s strategy is wise—using Hong Kong as a pilot zone. Over the past four years, the U.S. has been largely unsupportive or even hostile toward crypto, whereas Hong Kong has been relatively friendlier. But Hong Kong still lags somewhat. Current regulations are restrictive. Take Japan: seven years ago, Japan also had tight rules on listings and futures, with unclear guidelines. But around three to four years ago, Japan largely lifted restrictions on token listings. Hong Kong hasn’t reached that level of openness yet. However, after recent talks with senior Hong Kong regulators, I sense a trend toward looser regulation. With the U.S. advancing in crypto regulation, Hong Kong can’t afford to fall behind. I believe Hong Kong will soon make significant positive adjustments. Regulatory changes must be gradual—Hong Kong’s previous rules were indeed tight, but they’ll likely become more competitive. So I’m quite optimistic about Hong Kong’s development in this area.
The Most Important Article of My Life: “Principles”
Original article:
https://mp.weixin.qq.com/s/gUU-tp4U9X43qIkX9niCgQ?token=386014621&lang=zh_CN
Colin: Next, let’s talk about your article “Principles,” which went viral. Many people see it as a distillation of your entrepreneurial experience, containing unique insights—like preferring to collaborate with proactive individuals, or efficiency tips such as using text instead of calls, and calls instead of meetings. Looking back, what key messages do you most want to convey? After all these years, are there new thoughts you’d add? I heard you’re writing a book—is it an expansion of this article?
CZ: Yes, it took me about two to three years to write that article.
Colin: That long?
CZ: Yeah, I didn’t expect it to take so long. I started adding content gradually. After reading Ray Dalio’s book “Principles,” I thought I’d write one too. But initially, I couldn’t write anything. Then I met Ray and asked how he wrote his book. He said: every night, review the decisions you made that day, why you made them, and if any were based on principles, write those principles down. Following his advice, I started jotting things down daily—recalling meetings, decisions, and reasoning. If the reasoning was universal, I recorded it. Over two to three years, I completed the article. Though short—about 10 pages—it took significant effort.
Colin: It’s a pivotal piece in your life.
CZ: Exactly. Ray’s guidance gave me the method. I slowly documented my thoughts, focusing especially on ideas that differ from others’. Things like “companies should save money”—everyone knows that, so I didn’t write it. I observed myself closely, noting where my thinking diverged. For instance, while others prefer meetings over calls, and calls over messages, I believe the opposite.
This article took a lot of effort. My team helped polish it, but the core content is mine. Also, I’m currently writing a book about my personal journey. Originally hoped to finish and publish in Q1–Q2 this year. Previously in the U.S., with limited social interaction, I spent a lot of time writing. But now I’ve hit a bottleneck—though unemployed, I’m oddly busy. Not sure why.
Future Focus: Investing and Engaging with Early-stage Founders
Colin: There were rumors you might take a more active role in Binance Labs investments. Are you now primarily focused on investment-related work?
CZ: Yes, we’re preparing to rebrand Binance Labs—new name coming this week (already launched: Yzi Labs). I am doing some investing, but I don’t evaluate many projects. I prefer engaging with early-stage founders. As a founder myself, I enjoy supporting others, so I focus on early-stage opportunities. Recently, I’ve been meeting founders across industries—they’re very generous with their time, many reaching out to chat. When I can help, I try to offer advice.
These conversations have taught me a lot. For the past seven or eight years, I’ve been deeply focused on Binance’s centralized exchange. Now, I’m exposed to many new fields—AI, biosciences, and fresh innovations in blockchain. People may assume I know everything about blockchain, but when running a centralized exchange, you don’t have time to deeply explore everything—you only grasp the surface. Now, spending more time learning from founders about their cutting-edge work feels fascinating.
Thoughts on Ethereum’s Current Challenges
Colin: An interesting question—do you browse Twitter regularly? Lately, Vitalik has faced heavy criticism. Yesterday, Sun Yuchun even offered him strategic advice. What’s your take on Ethereum’s current difficulties? Any suggestions?
CZ: I see this more as a PR crisis—a public relations issue. Fundamentally, Ethereum remains strong. In market cap, it’s second only to Bitcoin. Solana is growing fast, but still trails Ethereum in total value. Honestly, Sun Yuchun loves riding trends—he’s good at publicity. But him advising Vitalik is like a small exchange advising a large one—there’s a gap in operational expertise. Of course, Sun Yuchun is smart and capable in his own ways—every founder has strengths.
Vitalik is a technical genius—undeniable. ERC-20, NFTs, Soulbound Tokens—all invented by him, all born on Ethereum. His contributions to the industry are immense. While Ethereum’s token price hasn’t risen much recently, its overall market cap remains impressive.
From my perspective, I support every entrepreneur in the space—both Vitalik and Sun Yuchun have tough journeys. For traders, it’s impossible to always profit—markets naturally fluctuate. I suggest maintaining a long-term mindset, avoiding emotional reactions to price swings. Ethereum’s total growth since inception exceeds Bitcoin’s—that’s remarkable. Vitalik’s recent tweets may have been poorly timed.
Colin: He seemed anxious.
CZ: And his communication style might not resonate well. He’s technically trained, quite direct, young—speaks bluntly. Saying things like “I control this” or “I specified that” only invites more backlash. But as industry insiders, we should show him more tolerance. Don’t pile pressure over minor issues—founding is incredibly hard.
Responding to Difficulties in Crypto Entrepreneurship
Colin: The industry needs diversity—not everyone should chase Solana or launch memecoins, nor emulate Sun Yuchun. Everyone should have room to grow. You mentioned currently engaging with and supporting founders, but crypto entrepreneurship seems challenging. A popular saying lately: “Good products don’t need tokens; good tokens don’t need products.” Regardless, crypto startups face a problem—beyond financial applications, it’s hard to monetize elsewhere, making entrepreneurial paths narrow. Do you share this feeling? Any advice or thoughts for these founders?
CZ: I’m hearing that phrase for the first time today. But I completely disagree. I believe there are abundant opportunities in crypto right now. Many projects can both build strong fundamentals and have successful tokens. Conversely, I think tokens without real project backing struggle to sustain long-term value. Even memecoins need underlying value—not just hype. So there’s plenty to do. DEX trading volume is rising, adoption growing, but every blockchain still slows during peak usage—even Solana, despite claiming speed, has recently lagged. Wallet usability still has massive room for improvement.
Many sectors remain underserved by blockchain—scientific research, for example. Many scientists need funding for experiments. Though many may fail, a few breakthroughs could yield enormous returns. This model is viable—just not fully realized yet. Now, even politicians are launching memecoins—afterward, someone needs to figure out how to provide lasting value for these tokens.
From my view, as a lifelong entrepreneur, I see endless opportunities—always feel there’s too much to do. Talented founders remain the rarest resource. Traders may complain why their coins don’t surge overnight. But zoom out—months ago, when Bitcoin hit $60K, everyone was thrilled, calling it a new high. Now at $100K, people still complain. We can’t expect daily gains—long-term perspective matters.
Views on Bitcoin’s Price Trajectory
Colin: How high do you think Bitcoin will go in this cycle?
CZ: Many ask me, but I truly can’t say. But I don’t think we’ve peaked yet. Trump has just taken office, and new U.S. compliance measures haven’t rolled out. I expect several positive developments ahead. I’ve always been bullish on the industry—even during the worst bear markets, I stayed optimistic, same in bull runs. So I remain positive, though my view isn’t always accurate.
Shift in U.S. Attitude Toward Digital Asset Policy
Colin: In your last Dubai interview, Trump hadn’t taken office yet. You said then you didn’t want any connection with the U.S. Has your attitude changed now? Today you sound very confident. But if Democrats return in two or four years, reversing policies—how would you handle that?
CZ: Yes, that interview was pre-election—around late October or early November, before results were known. Back then, U.S. direction was unclear—who would win, and even if Trump won, how crypto-friendly he’d be wasn’t certain.
But the past few months brought big changes—not only did Trump win, but he’s announced relevant policies, which we didn’t expect. Now, newly appointed U.S. officials—especially key government roles—show strong pro-crypto stances. This transition clearly shows crypto’s influence. Many young people hold crypto—anti-crypto policies directly impact their wealth, affecting their votes. That’s instinctive. Clearly, crypto can no longer be ignored. I used to think suppressing crypto might gain political support, but election outcomes prove that’s wrong. So I believe crypto will grow significantly over the next four years, and a return to suppression afterward is highly unlikely.
Like the early internet—people questioned its value, but once it reached a certain scale, its importance became undeniable. So four-year risks are small. Second, the current Republican talent pool is strong—like the Vice President, who holds high prestige. We’ll reassess four years later. But right now, the U.S.’s positive stance on crypto is excellent for the entire industry. Countries worldwide are actively advancing blockchain regulations, and the tone is becoming friendlier—very positive. Binance doesn’t serve U.S. users, but there’s an independent entity, Binance US. Though bearing the Binance name, it’s entirely separate. Due to past issues, its scale shrank significantly, but it continues operating. We hope it grows healthily in the U.S., leveraging this favorable momentum.
I believe Binance US’s product is highly competitive—twice reaching 40–50% of Coinbase’s global volume, though both times dropped due to external factors. So long as regulations treat it fairly, it’s highly competitive. I’m not overly concerned about that.
Sharing Daily Life
Colin: Some friends have a few personal questions. First, how do you spend a typical day? Second, you’ve said every New Year your goal is six- or eight-pack abs—how’s that going? Third, what’s your favorite city?
CZ: Sure. My daily routine is much lighter now. I schedule about seven or eight meetings a day, make a few calls, but now I exercise daily—hit the gym. I currently enjoy two sports.
Both involve boards—one is skiing, the other kite surfing. When there’s wind, I’ll spend one or two hours each day, then do meetings. My life now resembles a retired investor—much better than when I was Binance CEO. About the six-pack—right after prison, I faintly saw six abs. I even took a photo.
Colin: Because the food was bland?
CZ: The food was truly awful, so I ate little. When I first got out, six abs were vaguely visible. Someday, if I muster the courage, I might share that quick bathroom snap—not a polished photo. After release, keeping six abs became hard—after eating poorly for so long, suddenly having good food, it’s tough to resist. Getting abs requires diet control, but my self-discipline on food isn’t strong now, so the six-pack faded. That was probably my closest moment. What was the third question? Oh, favorite city.
I like many cities—each has unique charm. Currently, I find life comfortable in Dubai and Abu Dhabi, UAE—business and crypto environments are good, governance and safety are strong. Downsides exist—desert climate, summers are brutally hot—but winters are pleasant, like now. I also love Tokyo, Hong Kong, Singapore. Europe has many great cities, but crypto progress is slower there, so I visit less. South America and the U.S. are far, so I go less often. Mostly, I’m active in the Middle East and Asia. Thailand—traffic is congested, but otherwise I like it.
Colin: You can only ride motorcycles there.
CZ: Right. But usually, when I go somewhere, I stay at the hotel—don’t spend much time commuting—meet many people right at the hotel.
New Year Wishes for Chinese Entrepreneurs and Investors
Colin: Finally, thank you, CZ, for taking the time. Hope we can talk again. With Chinese New Year approaching, could you share a message with Chinese entrepreneurs and investors?
CZ: Sure. Thank you, Colin, for this opportunity. I believe we’ll definitely communicate more in the future. Previously, in many Asian communities, I assigned He Yi to handle the Asian market, while I focused on English-speaking regions—our division of labor. So my communication with the Chinese community may have been insufficient. Now that I’m “retired,” I’ll engage both sides personally.
My advice to everyone: approach this industry, technology, and its development with the right mindset and patience. Whether you’re an investor or founder, the whole industry is on an upward trajectory. Progress isn’t obvious every day, but month-over-month and year-over-year, the outlook is very positive. Stay calm—whether founding, launching tokens, or investing, proceed steadily and do your work well. I believe this year will be an excellent one. To all friends and supporters in the Chinese community—Happy New Year! Also, I’ll spend more time engaging with the Chinese-speaking community. Let’s connect more in the future.
Colin: Great, thank you, CZ.
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